Yes this is possible, however users wishing to make use of absence recording will need the Attendance module.
The absence can be recorded at the same time the attendance is added or separately and you can run the absence reporting. The absence report will check across classes/courses/enrolments/schools for continuous absence, which then enables you to send out documentation advising the student.
There is a helpsheet (no.SQL175) which covers this. Please click on the following link to view or download helpsheet – SQL175.net Absence Recording.doc